Exam 10: Developing a Target Market Strategy

Data are gathered from small, separate market segments and then aggregated in which sales forecasting technique?

Which target market approach uses a mass marketing strategy?

For segmentation to be successful, a segment must be large enough to generate sufficient sales and cover costs.

a. How can an Italian restaurant use geographic demographics, personal demographics, and consumer lifestyles as bases for segmentation? b. Describe the use of personal demographics as a segmentation base for a wholesaler of electric cables used in new home construction and renovation projects.

The ideal situation for a marketer occurs when consumer demand is diffused.

About 160 manufacturers use about one-half of all general-purpose synthetic rubber. To marketers, this group comprises what segment?

The Japanese VALS system is similar to the classification system used for U.S. residents.

While both VALS 2 and the Social Styles model classify consumers into lifestyle categories, the VALS model studies final consumers while the Social Styles model analyzes organizational consumers.

Which target market approach most closely resembles a niche strategy?

Which of these is NOT an example of a geographic demographic segmentation base for a home builder?

By accurately ___, a firm can develop a marketing budget, allocate marketing resources, analyze productivity, measure success, and modify marketing programs.

Usage rate is an appropriate consumer lifestyle segmentation variable for products where a small group of consumers uses a disproportionately large amount of a good or service.

Which target market approach aims at a large, broad consumer market with a single well-defined marketing plan?

The final step in the target-marketing process is

A regional firm wants to expand nationally. It is computing its national sales forecast by multiplying its current sales times 6.5. The firm is using

A bookstore appealing to individuals seeks sites in areas with high education (college or graduate school) and with middle to high income distributions (family incomes above $50,000). The bookstore looks at population data within 10 miles from each proposed site. The bookstore is using geographic demographics as a segmentation base.

In a differentiated marketing strategy, a firm can appeal to both a mass market and a market niche.

Which of these statements is correct if a homogeneous demand pattern exists?

Develop a target market for a major manufacturer of laser printers that is studying the home office market. Be sure to include all seven steps in the segmentation strategy process (as shown in Figure 10-1).

A glass skylight manufacturer plans to forecast its product sales in new residential construction on the basis of the number of new homes, the number of skylights per home, the percent of homes with glass (versus plastic) skylights, and the firm's anticipated market share. The firm is using the chain-ratio method.